How to Balance Work and Life

By | Uncategorized

Today’s society places such high importance on achievement, professional fulfillment, and monetary rewards that some individuals spend an inordinate amount of time at work, thus feeling out of balance relative to other important roles in their lives. Work-life balance suggests a harmony or equilibrium between the time and attention allocated for work and the time and attention allocated to other aspects of life including personal interests, family, social, and leisure activities.   Balance doesn’t suggest an equal allocation of time to…

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Doerhoff Understand EIDL Before Agreeing to It

Be Certain to Understand Terms of EIDL Before Accepting It

By | Uncategorized

Shortly after the World Health Organization (WHO) declared the novel coronavirus a worldwide pandemic, governors across the United States ordered the closure of millions of businesses to help slow its spread. This hit small businesses, especially those in the retail, bar and restaurant, personal services, and hospitality industries, extremely hard from a financial perspective. Recognizing this, Congress scrambled to put together several business relief programs in the forms of loans and grants. One such program is Economic Injury Disaster Loans…

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Will My Business Survive a Recession?

By | Small Business Advice

Recession. Even though it is a dreaded word, economists have been predicting one since mid-2018, and now with all the socioeconomic impacts of the COVID-19 virus, a recession is on our doorstep. This one is not the first and probably won’t be the last. The U.S. has lived through the 2002 economic aftereffects of the 9/11 “Attack on America” and the 2007 housing bust which lead to the financial crisis of 2008-2009. In the face of today’s crisis, the best…

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startup success

Are You Starting a Startup? Do You Know These Keys to Success?

By | Small Business Advice

A startup is a new company founded by entrepreneurs based on a vision for success in developing a unique service or product and bringing it to the marketplace. Many of today’s most successful businesses began as startups including McDonald’s, Ford Motor Company, and Microsoft. Each of these founders had a vision for success. As Tony Hsieh, Zappos CEO said, “Chase the vision, not the money; the money will end up following you.” Successful startup plans start with a clear vision….

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How Much of Your Payroll Protection Loan (PPP) Will You Have to Repay?

How Much of Your Payroll Protection Loan (PPP) Will You Have to Repay?

By | Accounting Advice, Small Business Advice

THE GOVERNMENT ACTUALLY PUT OUT A SIMPLE PROGRAM:   This program started with a simple idea and hopefully, the final guidance on the forgiveness will be as simple.  The original program allowed businesses to borrow 10 weeks of gross wages plus state unemployment cost, related employee health insurance, and retirement contributions for those 10 weeks of wages.  The goal was simple, give employers the money to keep their trained workforce on payroll so when the economy opened up the workforce…

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accounting services

8 Important Accounting Services That Will Help Your Small Business Succeed

By | Accounting Advice

8 Important Accounting Services That Will Help Your Small Business Succeed   Every small business owner starts his/her enterprise with a desire to succeed. However, success doesn’t come overnight nor is it easy to achieve. As renowned architect Frank Lloyd Wright said, “I know the price of success: dedication, hard work and an unremitting devotion to the things you want to see happen.” Achieving success doesn’t mean doing everything yourself. Especially important to long-enduring business success is securing expert accountant…

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How Your Small Business Can Benefit From Competition

How Your Small Business Can Benefit From Competition

By | Small Business Advice

Competition can feel threatening as a small business owner. However, changing your mindset about competition can benefit your business in many ways. For example, instead of viewing competition as something negative, remind yourself that it forces you to work harder to attract and keep clients. It can also push you to embrace innovation sooner than you would have otherwise. Below we identify other benefits of small business competition as well as strategies you can follow to better use competition to…

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financial statement

Is Financial Statement Analysis Critical to Assess What is Working in Your Business?

By | Small Business Advice

Ask a typical American on the street about their interest in analyzing financial statements and you’ll likely get a glassy look or loud laughter. But, to every business executive, financial statement analysis is no laughing matter because the analysis is both informative and critical for business success.   What are Financial Statements and Why are They Important?   The financial statements of a company record financial data reflecting the components of its business activity. Financial statement analysis is simply the…

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